The BBC has released its Annual Plan for 2023\/24, setting new targets for cost-savings that includes cutting 1,000 hours in content commissions annually.<\/p>\n
The British pubcaster is heading into its second year since the freezing of the license fee in January 2022, with the next increase set for 2023\/24. “While we recognize the license fee is a privilege, this settlement continues to place significant financial challenges on the BBC at a time of high inflation and media super-inflation,” the annual report notes.<\/p>\n
The organization had originally set a cost-savings target of \u00a3285 million annually by the end of the Charter in 27\/28. That has now been increased to \u00a3400 million. As such, the BBC will cut 1,000 hours on content commissions annually; shift several World Service TV and radio broadcast services to digital; create a single BBC News channel operation with separate feeds for the U.K. and international; and increase funding for digital news, investigative journalism and high-impact content across the U.K.; while looking for other efficiencies. There will be an additional \u00a350 million investment a year in accelerating its digital services per year by 2025\/26. BBC Studios is in the first year of an “ambitious five-year growth plan,” the report says, with plans to increase commercial income in the long term.<\/p>\n
The license fee is expected to bring in \u00a33.7 billion in 23\/24, with \u00a31.8 billion in additional income. Operating and restructuring costs are expected to be \u00a35.8 billion, resulting in a deficit of \u00a3352 million.<\/p>\n
Richard Sharp, chairman of the BBC, noted: \u201cThe BBC\u2019s performance in delivering against its strategic priorities has been outstanding, particularly in such a challenging financial setting and against a backdrop of increased competition. This plan sets out how we will best serve all audiences by making the most of our resources in the coming year.\u201d<\/p>\n
Tim Davie, director-general, added: \u201cOur plans outline an ambitious year of creative excellence from the BBC, with trusted news and high-quality content to provide the best value for all audiences. This year we will bring people together like no other organization can with the Coronation and Eurovision amongst the highlights.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The BBC has released its Annual Plan for 2023\/24, setting new targets for cost-savings that includes cutting 1,000 hours in content commissions annually.<\/p>\n","protected":false},"author":290,"featured_media":12408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[170,80,100],"class_list":["post-12407","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-top-stories","tag-bbc","tag-bbc-studios","tag-tim-davie"],"yoast_head":"\n